Toho Takeout of Rakutenchi - Buying a Real Estate Portfolio at a 50% Premium but 0.7x NAV.
Toho (9602) is taking out a real estate operations affiliate Tokyo Rakutenchi. It is doing so at 1.2x book but probably 0.7x NAV. And the Board...
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Tokyo Rakutenchi (8842 JP): Toho’s Tender Offer at JPY6,720
The minimum acceptance condition requires a 30.2% minority acceptance rate. This acceptance rate is doable as the offer represents a ten-year high...
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Fadu Pre-IPO - Stupendous Revenue Growth but Heavily Reliant on Two Key Customers
Fadu is a South Korean fabless semiconductor maker mainly engaged in flash storage technology innovation. Its core products are Enterprise Solid...
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Alps Logistics (9055 JP): KKR’s Knockout Pre-Conditional Offer at JPY5,774
The offer represents an all-time high and is a knockout bid. While the timing of regulatory approvals is a risk, the transaction is a done deal.
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ECM Weekly (8th Apr 2024) - Hyundai Marine, Waaree Energies, Horizon Robotics, Bharti Hexacom
Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs. This week...
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